Sale of shares in Carlsberg Breweries A/S

Plesner Svane Grønborg has assisted its long-standing client Orkla ASA, one of the largest groups in the Nordic countries, in the sale of the group's shares in Carlsberg Breweries A/S to Carlsberg A/S. The total purchase price of DKK 15 billion makes this share deal one of the largest cross-border transactions in the history of Danish business.

Orkla ASA was assisted at Plesner Svane Grønborg by a number of specialists from the various departments of the firm under the guidance of the group's regular Danish attorney Peter Wengler-Jørgensen assisted by Hans Hedegaard, Jakob Schou Midtgaard and Thomas Ryhl.

The share deal, which was negotiated and finalised within a few weeks, was preceded by a long period of negotiations about the parties' role and position in relation to the operation of Carlsberg Breweries A/S, which has been amply reported on in the daily and specialist press.

The final implementation of the deal is only conditioned upon approval from Orkla ASA's corporate assembly, which will meet in the near future. The transfer of and payment for the shares will then take place in the first half of March 2004.